What is the public policy on offshore companies?
Some of the companies have faced adverse criticism from the customers who have confronted the offshore processing. It is not easy to convince the customers that the information they shared in an offshore is secured. Difference of regulations, banking laws, cultures, and languages is also a challenge. Therefore, such differences have resulted in undesired outcomes and it has led to new laws and public policies worldwide to penalize the companies that use offshoring rather than onshoring. Such laws impact the industry sector, data regulation, transfer tax structure, transaction taxes, privacy, income tax, and compliance with the public company.